Expectations of down moves
towards next supports
Nifty-Intra Day Chart Analysis &
Market Outlook(20-01-2022)
Nifty-Intra Day Chart (19-Jan-2022):-
Technical Patterns formation in today intraday charts
1- More than 100 points fall in first 3 minutes
2- Up moves in Bearish Rising Channel
3- Sideways trading between 17959-18129
4- Whole day actual trading between 17885-18129
Conclusions from intra day chart analysis
Although positive opening but immediately after that more than 100 points sharp fall in first 3 minutes and then selling was seen through down moves with upward corrections.
As some lower levels supports were also seen during sideways trading in last 3 hours between 17959-18129 therefore firsly sustaining beyond lowest of the day(17885) should be watched in the coming sessions for immediate down moves confirmations but expected that finally down moves will be seen towards following next supports:-
1- 17740-17788
2- 17657-17721